According to a recent report published by Forbes, Brightfield Group projects that the global cannabis market was worth USD 7.7 Billion at the end of 2017, and is predicted to reach USD 31.4 Billion by 2021. The United States accounts for about 90% of the whole market, but its domination of the market is likely to decrease to approximately 57%, due to the legalization of cannabis products in other nations. Canada is considered as one of the largest markets for cannabis products and the country plans to legalize recreational cannabis later this year. Earlier this year, California voted in favor of recreational cannabis laws, which were officially implemented on January 1st, 2018. WeedMD Inc. (OTC: WDDMF), The Green Organic Dutchman Holdings Ltd. (OTC: TGODF), Cara Therapeutics Inc. (NASDAQ: CARA), iAnthus Capital Holdings Inc. (OTC: ITHUF), MedReleaf Corp. (OTC: MEDFF)
Earlier this year, California began legal sales of cannabis products for recreational use and since then, further political changes have been planned. Meanwhile, states reap the benefits from the new growing market. Fortune reported that, "in order to collect USD 1 Billion a year in taxes, the state will need to reach a projected USD 7 Billion in annual legal recreational cannabis sales. At that rate, California would easily be the country's largest legal marijuana market, as the entire legal cannabis industry in the U.S. is expected to pull in roughly USD 10 Billion in total sales for 2017. That number would almost certainly get a boost in the coming years, as legal markets grow in California and other states, such as Nevada and Massachusetts."
WeedMD Inc. (OTC: WDDMF) also listed on the Toronto Stock Exchange Venture under (TSX-V: WMD). Yesterday the company announced breaking news that, "it has entered into an agreement to become a medical cannabis supplier to Shoppers Drug Mart.
Subject to Health Canada's approval of Shoppers Drug Mart's application to be a licensed producer, under the terms of the agreement the Company will supply Shoppers Drug Mart with WeedMD and affiliate branded medical cannabis products. It is expected the products will be sold online, as Canadian regulations currently restrict the sale of medical cannabis in retail pharmacies.
'WeedMD's medical cannabis products have become a trusted source for the seniors' market and we are excited to expand accessibility to all medical cannabis patients through this strategic agreement with Canada's leading provider of pharmacy products and services,' said Michael Kraft, Chairman of WeedMD. 'As one of the most trusted names in pharmacy retailing and patient support services, we are pleased to be partnering with Shoppers Drug Mart as it looks to WeedMD for the supply of premium medical cannabis. Our strains directed at seniors' and women's' health will add a range of depth to Shoppers Drug Mart's anticipated medical cannabis product offerings.'
WeedMD's expansion into its recently licensed large-scale, fully-funded modern greenhouse will be the main supply source for its medical cannabis patients in addition to the future adult-use market.
WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer and distributor of medical cannabis and oils under the ACMPR. The Company operates a 26,000 sq. ft. indoor facility in Aylmer, Ontario, and a second cultivation site at its greenhouse facility located in Strathroy, Ontario, representing 610,000 sq. ft. or 14 acres under glass. WeedMD has entered into supply agreements in addition to strategic relationships with established cannabis brands. WeedMD is focused on providing medical cannabis to the seniors' markets in Canada through its proprietary senior care program. It is dedicated to educating healthcare practitioners and furthering public understanding of the role that medical cannabis plays - including as it pertains to regulatory requirements, indications and potential side effects."
The Green Organic Dutchman Holdings Ltd. (OTCQX: TGODF) is a research & development company licensed under the Access to Cannabis for Medical Purposes Regulations to cultivate medical cannabis. The Company announced that, effective June 8th, its wholly-owned subsidiary, Medican Organic Inc. has received its Cultivation License from Health Canada for the Company's breeding facility in Salaberry-de-Valleyfield, Quebec. The commissioning of this facility will allow the Company to create proprietary, organically grown strains of cannabis and cannabis seeds. Located on a 72-acre property, the breeding building will house the cultivation of cannabis and the production of seeds and new strains. This building marks TGOD's first facility in Valleyfield, which will be followed by the addition of TGOD's flagship 820,000 square foot state-of-the-art hybrid grow facility, which, when complete, will bring TGOD's domestic production to 116,000 kgs of high-quality, premium organic cannabis annually. Breeding has many different applications and there are several reasons why TGOD plans to engage in a genetic breeding process while focusing on growing new cannabis strains specifically tailored for specific medical and commercial uses.
Cara Therapeutics Inc. (NASDAQ: CARA) is a clinical-stage biopharmaceutical company focused on developing and commercializing new chemical entities designed to alleviate pruritus and pain by selectively targeting peripheral kappa opioid receptors (KORs). Studies on the effects of cannabis (marijuana) have led to the recent discovery of an endogenous system of ligands in humans involved in a number of physiological processes including pain and inflammation. Cara is developing lead molecules that selectively modulate peripheral CB receptors without targeting CNS cannabinoid receptors. Peripheral CB receptor modulators will be initially developed as a novel therapeutic approach for neuropathic pain, a condition currently without consistently effective therapies.
iAnthus Capital Holdings Inc. (OTCQB: ITHUF) owns and operates best-in-class licensed cannabis cultivation, processing and dispensary facilities throughout the United States, providing investors diversified exposure to the U.S. regulated cannabis industry. iAnthus recently announced that Mayflower Medicinals, Inc. has signed a Host Community Agreement with the City of Lowell, Massachusetts, to operate a Medical Marijuana Treatment Center. Mayflower intends to diligently pursue a Special Permit at the site. If granted, the dispensary is expected to be one of only two operating dispensaries within the Lowell city limits. "The Commonwealth of Massachusetts and the City of Lowell have abided by high program standards that are firmly focused on patient care and regulatory compliance," said John Henderson, Chief Development Officer of iAnthus. "Mayflower is honored to have successfully completed its host community agreement with Lowell, which adds significant value to the project by documenting a supportive relationship between the City and the development of the Registered Marijuana Dispensary site."
MedReleaf Corp. (OTC: MEDFF) is a full-service Contract Research Organization specializing in the conduct of Phase I/IIa and Bioequivalence clinical trials for international pharmaceutical companies worldwide. The Company recently announced they have entered into an exclusive agreement to conduct clinical research for cannabis and cannabis-derived products. Under the agreement, BioPharma, will become an extension of MedReleaf's clinic development team. BioPharma is well positioned to accelerate MedReleaf's product development and clinical research programs through their international experience in running early phase clinical trials. MedReleaf and BioPharma will jointly provide scientific and regulatory guidance to clinical research studies supporting MedReleaf's product launches in the months to come. "This strategic alliance sets us apart in the clinical research and development space for cannabis and cannabis-derived products and will facilitate much needed cannabinoid therapies to assist in the treatment of pain, inflammatory conditions, mental health, palliative care and underserved therapeutic areas," said Angelo Fefekos, Senior Vice President Clinical Affairs and Quality Assurance at MedReleaf.
Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/
About FinancialBuzz.com
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.
Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For WeedMD Inc. financial news dissemination and PR services, FinancialBuzz.com has been compensated five thousand dollars by the company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com.
For further information:
Media Contact:
[email protected]
+1-877-601-1879
Url: http://www.FinancialBuzz.com
SOURCE FinancialBuzz.com
